The Nebraska Department of Economic Development (DED) is accepting applications under the Community Housing Development Organization (CHDO) cycle of the HOME Investment Partnerships Fund (HOME) for the 2022 Program Year.
Donor Name: Nebraska Department of Economic Development
State: Nebraska
County: All Counties
Type of Grant: Grant
Deadline: 02/15/2023
Size of the Grant: $1.6 Million
Details:
The United States Department of Housing and Urban Development (HUD) allocates HOME funds to Participating Jurisdictions (PJs). The State of Nebraska receives funds as a PJ and the Department of Economic Development administers the program for the State. For the 2022 Program Year DED anticipates investing approximately $1.6 Million to eligible CHDOs for eligible housing development projects.
Eligibility Criteria
- For funds related to the purchase of rehabilitated or newly constructed housing, Community Housing Development Organizations (CHDOs) may apply.
- CHDOs are community-based non-profit 501(c)(3), 501(c)(4), or section 905 organizations who, among their purposes, work to provide decent affordable housing to low- and moderate-income persons. CHDOs must meet qualifications as defined in the HOME Investment Partnerships Program 2013 Final Rule Subpart A, §92.2.
HOME Funds are used to
- Assist homebuyers with purchasing rehabilitated or newly constructed housing developed by community-based development organizations.
- Assist organizations with building capacity to carry out an eligible housing activity.
- Develop new, affordable rental housing through programs co-managed by DED and the Nebraska Investment Finance Authority (NIFA):
- Collaborative Resource Allocation for Nebraska (CRANE) program
- Low Income Housing Tax Credits (LIHTC)
- CRANE encourages the development of affordable housing through long-term, coordinated job creation/enhancement, housing and community development strategies in Nebraska.
- LIHTC encourage the investment of private capital in the development of rental housing by providing a credit to offset an investor’s federal income tax liability.
For more information, visit NDED.
